ATOME PLC (AIM:ATOM), the green fertiliser company, has struck an agreement with a multilateral development bank's dollar fund to support a feasibility study for a 300MWp solar project in Paraguay.
The fund has agreed to provide financial and technical assistance to develop the study, subject to certain terms and conditions.
The projected solar photovoltaic plant would sit close to Atome's Villeta green fertiliser facility in Villeta, where the company has access to substantial land for the development.
Atome said it would press ahead with the feasibility study provided its Paraguayan arm advances the relevant Power Purchase Agreement, the contract under which the electricity generated would be sold.
The company is targeting an industrial park built around solar generation and battery storage, aiming to capitalise on the new industry and trades its fertiliser plant is expected to attract.
The 300MWp figure refers to the plant's peak generating capacity, roughly equivalent to a mid-sized power station.
The solar and storage work falls under Atome Power, the company's renewable power and battery storage division.
Atome said it would issue a further update on the project once the position of its Paraguayan subsidiary is resolved.
